https://www.taxtmi.com/caselaws?id=396933 The Tribunal affirmed that a company's business loss for Assessment Year 2012-13 cannot be carried forward if the return of income was filed after the due date under section 139(1) of the Income Tax Act, 1961. Despite the company's late filing resulting in a declared business loss, only unabsorbed depreciation was permitted to be carried forward. The Tribunal upheld the decision, dismissing the appeal and affirming the order of the CIT(A) for the year in question. en-us Thu, 23 Jul 2020 00:00:00 +0530 Sat, 25 Jul 2020 10:22:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=396933 The Tribunal affirmed that a company's business loss for Assessment Year 2012-13 cannot be carried forward if the return of income was filed after the due date under section 139(1) of the Income Tax Act, 1961. Despite the company's late filing resulting in a declared business loss, only unabsorbed depreciation was permitted to be carried forward. The Tribunal upheld the decision, dismissing the appeal and affirming the order of the CIT(A) for the year in question. Case-Laws Income Tax Thu, 23 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=396933